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Test - • Know classical trade theories • Dollar taken a...

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Definitions we have talked about in class Understand the concept of productivity (GDP and GNP) – Not just in terms of definition, but be able to explain it in terms of income and how it is related to savings and investments and current account. “Be able to connect the dots” If you are in a NAFTA or EU are better off? As a small country? Free Trade vs Common Market etc Implications of Current Account Deficit with low savings and a budget deficit (example) Exchange rate policy very important in export countries
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Unformatted text preview: • Know classical trade theories • Dollar taken a beating and world prices somewhat high • Is the current account deficit a good thing or bad thing? Having a huge deficit is bad in the long run, its a good thing because it makes things cheaper. • Foreign Exchange • Balance of Payment • GDP is also income • Capital Accounts = Foreign Investment, if that slows down and our savings rates are low. . • Corporate Goverance...
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